Theilman, Wabasha County, Minnesota Property Taxes

Name: Property Tax Bills Across Theilman, Wabasha County, Minnesota
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median THEILMAN, MN effective property tax rate: 0.60%, significantly lower than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median THEILMAN, MN home value: $294,300
Median annual THEILMAN, MN tax bill: $1,764, $636 lower than the national median property tax bill of $2,400.

How are property taxes in Wabasha calculated?

Property taxes in THEILMAN, MN are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding THEILMAN’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in THEILMAN, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Theilman, Wabasha County, Minnesota Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.6%

Estimate Property Tax Bill

$1,766

$1,639

Ownwell’s Theilman Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Theilman with just two data points. By entering your property's estimated assessed value, our calculator applies Theilman’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Wabasha County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Theilman, Wabasha County, Minnesota

Local government entities determine tax rates, which can differ significantly within a state. Each year, counties calculate their necessary budget to fund services and divide it by the total value of all taxable property within their jurisdiction. This process results in the property tax rate. Although votes and legislation play roles in setting these rates and budgets, this is the core of the annual procedure. In Theilman, located in Wabasha County, Minnesota, the effective property tax rate is a key point of comparison. The rate here is notably lower than both the Minnesota state median and the national median property tax rates. This difference highlights the variability in property tax burdens across different regions. Understanding these differences can help property owners in Theilman make informed decisions about their property tax liabilities. By comparing Theilman's rate to those of other cities within Minnesota, as well as to national figures, property owners can better grasp the local tax landscape and how it affects their financial planning.

Property Tax Rates Across Theilman, Wabasha County, Minnesota

Source: Ownwell

0.62%

0.94%

1.27%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Theilman Tax Rate

0.60%

Median Effective Wabasha County Tax Rate

1.15%

Median Effective Minnesota Tax Rate

1.11%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Theilman, Wabasha County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
55945	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Theilman, Wabasha County, Minnesota

When examining property taxes in Theilman, MN, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Wabasha County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill. In Wabasha County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Theilman. For example, the median home price in Theilman is $294,300, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Theilman, Wabasha County, Minnesota

Source: Ownwell

$100,400

$307,800

$515,200

Median Theilman Market Value

$294,300

Median Wabasha County Market Value

$243,600

Median Minnesota Market Value

$290,400

Median United States Market Value

$235,294

Property Tax Assessment Values Across Theilman, Wabasha County, Minnesota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
55945	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Theilman, Wabasha County, Minnesota

In Theilman, located within Wabasha County, MN, property tax bills are determined by assessing the property's market value and applying the local tax rate. With a median home price of $294,300, homeowners in this area face property tax bills that are notably lower than the national median tax bill of $2,400. Specifically, the 25th, 75th, and 90th percentile property tax bills all stand at $1,764, reflecting a more consistent taxation level compared to other regions. The tax bill is influenced by factors such as property size, location, and local levies, which can impact the overall amount owed. For homeowners, these taxes can represent a significant financial obligation. Ownwell offers a solution by providing property tax appeal and exemption services, helping to potentially reduce these bills. By analyzing market trends and leveraging local tax codes, Ownwell can identify opportunities for savings, ensuring that homeowners are not overpaying and can achieve a fair tax assessment.

Property Tax Bills Across Theilman, Wabasha County, Minnesota

Source: Ownwell

$970

$3,290

$5,609

Median Theilman Tax Bill

$1,764

Median Wabasha County Tax Bill

$2,658

Median Minnesota Tax Bill

$3,182

Median United States Tax Bill

$2,400

Property Tax Bills Across Theilman, Wabasha County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
55945	N/A	N/A	N/A	N/A	N/A

Source: Ownwell